Hon Hai and Samsung re-charge convertible market

Two new deals provide a renewed display of the growing popularity of equity-linked instruments for Asian issuers and investors.

A $300 million convertible for Taiwan's Hon Hai Precision and a $200 million convertible for Samsung Electronics of Korea mark the first two major international equity transactions from Asia this month and add to a growing stockpile of deals from the sector. Since Hutchison Whampoa launched its landmark $3 billion exchangeable in mid-September, the equity-linked market seems to have found its feet for the first time since the Asian crisis, with four of last month's nine major...